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ncome Tax Return (ITR) rejection continues to be a recurring issue for taxpayers under the Income Tax Act, 1961. Even minor mismatches or incomplete filings can result in rejection, leading to refund delays and compliance troubles. The Income Tax Department’s system cross-verifies every detail from Form 16, Form 26AS, AIS, and bank data — any inconsistency can halt processing. Most rejections stem from incomplete information, failure to e-verify, or incorrect form selection.

Form 16B is a crucial TDS certificate issued to property sellers when tax is deducted at source under Section 194IA of the Income Tax Act, 1961. It confirms that the buyer has deducted and deposited TDS on the sale of property with the government. This document is downloaded from the TRACES (TDS Reconciliation Analysis and Correction Enabling System) portal by the buyer and shared with the seller. The process requires basic details like PAN, acknowledgment number of Form 26QB

Section 194A of the Income Tax Act, 1961 governs the deduction of Tax Deducted at Source (TDS) on interest income other than interest on securities. It primarily applies to interest earned from fixed deposits, recurring deposits, loans, and advances by Indian residents. The provision ensures that tax is deducted at the source before payment, promoting timely compliance and minimizing evasion. Tax on interest income is deducted when the amount exceeds specified limits, and the

When the tax deducted at source (TDS) exceeds your actual income tax liability, the excess amount becomes refundable under the Income Tax Act, 1961. To receive this refund, a taxpayer must file an Income Tax Return (ITR) for the respective financial year, ensuring all income, deductions, and exemptions are correctly reported. The process involves filing, verification, and refund credit to the taxpayer’s registered bank account. Understanding the steps and timelines helps avo

Section 194J of the Income Tax Act, 1961 deals with Tax Deducted at Source (TDS) on payments made to professionals and technical service providers. It ensures that tax is collected at the time of payment itself, helping maintain compliance and reducing evasion. This section applies to services rendered by professionals such as doctors, engineers, consultants, and IT experts. With the recent updates from Budget 2025, the threshold limit has increased to ₹50,000, and TDS rates

Section 195 of the Income Tax Act, 1961 mandates deduction of Tax Deducted at Source (TDS) on payments made to non-residents such as NRIs and foreign companies. It ensures that tax is collected at the source when income arises from India, covering payments like interest, royalty, professional fees, rent, and capital gains. This mechanism prevents tax evasion and secures government revenue by holding the payer accountable for deduction and remittance of tax to the government

Filing TDS returns online ensures transparency, compliance, and timely credit of taxes deducted at source. Every deductor, whether an employer, business, or individual, must report tax deductions accurately using the Income Tax Department’s e-filing portal. The process involves registration, preparation, validation, and electronic submission of quarterly statements. The Income Tax Department has refined its e-filing system for FY 2025-26, making it easier for deductors to com

Form 16A and Form 16B are both TDS certificates under Indian tax laws, but they serve entirely different purposes. Form 16A applies to non-salary income such as interest, rent, or professional fees, while Form 16B is specific to TDS deducted on property transactions above ₹50 lakh. Knowing how these forms differ ensures accurate filing, proper TDS credit claims, and smooth tax compliance. With digital platforms like TaxBuddy simplifying TDS tracking and filing, taxpayers c

Section 194H of the Income Tax Act, 1961 governs the deduction of tax at source on commission or brokerage payments made to residents. It ensures that income earned through intermediary services is reported accurately and taxed at the source itself. From 1 April 2025, the threshold limit has been raised to ₹20,000 and the TDS rate reduced to 2 percent, simplifying compliance for businesses and individual payers. TaxBuddy helps taxpayers understand such provisions and stay c

Section 194N of the Income Tax Act regulates cash withdrawals beyond prescribed limits to promote transparency and discourage unaccounted cash transactions. Introduced to drive the shift toward digital payments, this section requires banks, co-operative societies, and post offices to deduct TDS when withdrawals exceed ₹1 crore annually. Budget 2025 has refined thresholds, exemptions, and compliance processes, making it vital for both individuals and entities to stay informed